Halifax Have Sent Cheques 3.9%....

Penny-Pincher!!

Hi There

I have this morning received 4 credit card cheques from Halifax One. They state 3.9% on anything written out for including balance transfers for the life of the balance. No fees to pay etc.

I am not going to use them as I have just BT balance from One card to Skycard (probably why they sent them!)

Just wondered how they work as I have never used them before-always shredded the cheques before because of the high APR on them normally

Has anyone else received these? We do need a newer car and must admit I am very tempted, but want to clear our smallish debt before we do so-which will be paid up in full by Feb 2006.

Cheers

Penny-Pincher!!
XXX

Reaper

While I don't have a Halifax card as long as there are no fees then low APR life of balance deals are good. As they do not expire it is much safer to use them for buying a car than short term 0% credit cards, as long as you can afford the minimum payments.

If you go for a LOB deal make sure it is the only thing on your card and that you use the card for nothing else because of the way repayments come off the cheapest debt first.

3.9% equals the best L.O.B. deal available anywhere else - that offered by Texaco.

knuckledragger

PP,
please remember that if you make a purchase with a credit card cheque then you do not get the level of protection that you would get using the card itself. No lodging a claim against the CC company if the goods/services fail to appear due to the retailer going bust etc.

cheggers

There is a 2% fee for using the Halifax cheques on top of the 3.9 % APR

Penny-Pincher!!

Hi There

There is no 2% fee on these cheques-it has been waived :j 3.9% with no fees for handling or BT's...and called them to make sure :rolleyes:

Thanks

Penny-Pincher!!
xxx

knuckledragger

If you really do want to make a purchase using the funds from them, write the cheques to yourself and pay them into your current account. Then use your credit card to make the purchase and pay off the bill with the cash.

JasonW_2

Good idea

david78

Does anyone know when we need to use the cheques by?